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Equiniti warns near-term trading remains difficult
StockMarketWire.com
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Technology services and payments group Equiniti said near-term trading conditions continued to be difficult, though added that it had seen its usual acceleration into the fourth quarter.
Cost-cutting measures taken during the first half had led to in-year reduction in operating costs of £16m with a similar saving expected for the financial year 2021.
'We continue to make strategic progress as evidenced by our strong order intake and resilient financial position, but pending any recovery in our markets we continue to tightly manage costs and cash flow through this now extended period of disruption, and the reduction in central bank interest rates,' the company said.
Looking ahead to the full-year 2020, the company guided underlying EBITDA in the range of £93m to £97m and revenue in the range of £480m to £490m.
At 9:31am: (LON:EQN) Equiniti Group PLC share price was -5.8p at 97.8p
Story provided by StockMarketWire.com
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